Founded by billionaire Anil Agarwal, Sterlite Power Transmission (SPTL) has filed a DRHP for an initial public offering (IPO) valued at Rs 1,250 crore. The profits of the offering will be used to repay the firm's and its subsidiary Khargone Transmission Ltd's debt (KTL). The company has Rs.7,323.99 crore in outstanding working capital and term loan arrangements, both fund-based and non-fund-based. The issue's lead managers are Axis Capital, ICICI Securities, and JM Financial. A pre-IPO transaction of up to Rs 220 crore may be considered by the firm.
Sterlite Power Transmission, based in India and Brazil, is a significant private sector power transmission infrastructure developer and solutions supplier. They are the largest private player in terms of project portfolio under the interstate TBCB route with a market share of 26% of transmission projects granted through the route. They began operations in Brazil in 2017 as part of their international expansion. TWIN STAR OVERSEAS LIMITED and Anil Agarwal are the company's promoters. Axis Capital Limited, ICICI Securities Limited, and JM Financial Limited are the issue's lead managers, and KFin Technologies Private Limited is the Registrar.
Sterlite Power Transmissions Limited IPO Objectives:
The company proposes to utilise the Net Proceeds from the Issue towards funding the following objects:
-Repayment or pre-payment, in full or part, of certain borrowings availed by the Company and KTL.
-General corporate purposes.
Listing at NSE, BSE
|IPO Open Date||To be announced|
|IPO Close Date||To be announced|
|Allotment Date||To be announced|
|Initiation Of Refunds||To be announced|
|Credit Of Shares To
|To be announced|
|IPO Listing Date||To be announced|
|UPI Mandate Expiry Date||To be announced|
|Basic Earnings per share (in ₹)||142.22||154.13||85.78|
|Diluted Earnings per share (in ₹)||142.22||154.13||85.78|
|Return on net worth (%)||68.42%||234.64%||97.00%|
|Restated net asset value per equity share (in ₹)||207.85||65.69||88.43|
|EBITDA (₹ in crores)||1831.76||2277.00||323.36|
|Adjusted EBITDA (₹ in crores)||1793.21||2405.62||459.62|
|Adjusted EBITDA Margin||46.98%||46.64%||12.87%|
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Here are our top reasons:
Position of leadership in India's power transmission business, attained by well-established procedures and technology for identifying and executing high-margin projects.
With the use of technology and new ideas, They have a track record of effectively completing complicated tasks.
An integrated player with tremendous development potential for its Solutions and Convergence business segments, delivering solutions throughout the full transmission infrastructure value chain.
A high return on investment (ROI) and a lean capital structure with many funding options.
The organization have a significant focus on environmental, social, and governance (ESG).
Board, management, and technical staff all have extensive expertise.
11 Currently Active Projects throughout the planning, engineering, and construction stages can be fraught with dangers.
Inability to recognize and correct defects or irregularities in the title of the property it holds or plans to purchase for its purposes.
Third-party contractors pose a performance risk, as well as operational risks linked with the involvement of third-party contractors and their personnel.
Operates in a highly competitive market, and greater competition might hurt its ability to win projects and execute its growth strategy.
Possible delays in obtaining, or failure to maintain, governmental permissions and permits needed to build and run its projects.
Changes in technology may render its current technologies obsolete or require substantial capital investments.
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Sterlite Power Transmissions Limited had filed draft documents with SEBI in August to raise around ₹1,250 crores through an IPO.
A lot size is the minimum number of shares that an investor has to bid for. A lot size differs for each IPO and is fixed by the company.
IPO Price Band is the price range within which investors can bid for the shares. The minimum price is called the floor price and the maximum price is called the cap price.
Issue size is the total value of an IPO. It is calculated by multiplying the number of shares offered by the company by the issue price per share.
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IPOs, as such, do not have any taxes. You are taxed only when you decide to sell the IPO shares. Any monetary profit you make while selling the IPO shares is referred to as ‘capital gains’.
Capital gains tax is charged depending on how long you held the shares for. If you owned the shares for less than 12 months, it is considered as short-term capital gains and if it is over 12 months, it is referred as long-term capital gains.
Tax on short-term capital gains is 15%. It is 10% for equity gains in the long run (over 12 months). Do remember that you are taxed if the equity proceeds exceed Rs 1 lakh.